Over this past weekend, President Obama announced that the United States and Korea had come to terms on a trade agreement between our two countries. You may have heard that this deal had been in the works for a while; many were hoping for an announcement during the recent G20 in Seoul, but President Obama insisted that we keep working to improve the agreement on behalf of American workers. After a lot of long days and nights over the past few weeks, now we have an agreement for which American workers, farmers, ranchers, manufacturers, and service providers can all cheer.
The tariff cuts alone in the U.S. – Korea trade agreement will increase exports of American goods and services by $10 to $11 billion. We expect this agreement to create 70,000-plus jobs for American workers in a wide range of economic sectors from autos and manufacturing to agriculture.
Source: http://www.whitehouse.gov/blog/2010/12/09/a-trade-agreement-works-american-businesses-and-workers
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